Ellomay Capital announced the financial closing for 300 MW »Talasol« project in Spain

Israeli firm Ellomay Capital Ltd., developer of renewable energy and power projects in Europe and Israel, announced the financial closing for the construction of the »Talasol« photovoltaic plant with a peak capacity of 300 MW in the municipality of Talaván, in Extramadura, Spain, and the closing of the sale of 49 percent of its indirect holdings in the project company, Talasol Solar, S.L.U. Talasol's total capital expenditures is expected to be approximately €228 million $255 million), of which an aggregate amount of approximately €131 million will be provided by a term loan under the project finance obtained by Talasol from Rabobank, ABN AMRO and Deutsche Bank (commercial tranche) and the European Investment Bank.
Talasol Solar provided Metka EGN Limited, the engineering, procurement and construction contractor of the »Talasol« project a notice to proceed with the construction works. The construction period is expected to be 16 months.

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